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days away. president obama is modestly optimistic. our chief white house correspondent jessica yellin has more on what needs to happen in order to make a deal. >> reporter: alison, christi, hi. the good news is things could have been worse. it doesn't seem to those of us watching from the sidelines as though time is running out, but congress does some of its best or at least its speediest work when the nation's back is against the wall. after a rare oval office meeting with top congressional leaders, the president said he's modestly optimistic a deal can come together. emphasis on "modestly." >> the american people are watching what we do here. obviously, their patience is already thin. this is deja vu all over again. >> reporter: both sides left an agreement, at least over their next step. >> we'll be, would go hard to try to see if we can get there in the next 24 hours. >> whatever we come up with is going to be imperfect. some people aren't going to like it. some will like it less, but that's where we are. >> reporter: on saturday they will try to agree on legislation preventing in
no deal's reached, barack obama and democrats immediately propose to relower the tax rates to bush levels for all but the top 2%, and republicans find themselves opposing it on behalf of their millionaire friends will be the democratic charge. so that's kind of a nightmare scenario for democrats, and it's why you saw john boehner, speaker of the house, offer to raise taxes on americans who mange more than $1 million a year. patti ann: yeah. so the idea, though, behind this fiscal cliff is that it was supposed to have items in it that were unacceptable to both sides so that both sides would be motivated to not go over that cliff with the understanding that they might not be able to fix it all with legislation after the fact. so are there items in there that democrats would really not want to see enacted with the fear that maybe they couldn't get them rolled back? >> well, you're right, but it wasn't quite equal. the two big disasters of the fiscal cliff are, one, tax cuts, tax rates going up for everybody, and, two, all of these automatic spending cuts in place. but democrats feel confiden
it is not all that rare. kelly? kelly: jamie, thanks. right now president obama is cutting his vacation short to head back to washington and jump-start the fiscal cliff negotiations with congress. talks fell apart before christmas. the deadline now is just days away and there is no deal in sight to avoid the tax hikes and spending cuts set to go into effect january 1st. our juan williams is a fox news political analyst and he joins us today and very quickly, juan, merry christmas to you. >> merry christmas, kelly. kelly: this is daunting task facing congress to avert the so-called fiscal cliff that will set into motion more than $600 billion in drastic and draconian allic tax hikes and spending cuts. that will cause a lot of pain for all americans and does congress have enough time to act on this? >> they do. you know it will be very close and it may in fact go beyond the deadline per se although people are thinking at the moment it is possible to get something done by the end of this week. the key here, kelly, is the senate. we have been so focused on the house, speaker boehner, plan. about,
.com/drive. >>> president obama is heading back from his holiday vacation in hawaii early in case there is a last-minute deal. the senate returns from christmas break tomorrow. house leaders say they're prepared to call members back if there is an agreement. joining us to talk about this is john avalon. he's a senior political columnist for "newsweek" and "the daily beast." we're here again. it's like groundhog day. we don't think there's going to be any kind of grand bargain at this point. what are the short-term measures? what's the best thing to hope for in the next six days? >> the best thing we can hope for is they get back to work again, suzanne. from all reports leadership isn't even talking to each other at this point. so it really is urgent. with six days left, the clock is ticking and the countdown is going on. this is not something abstract on the washington level. people need to appreciate if the country goes over the fiscal cliff, it will impact the bottom line as well. money out of their pocket in the form of tax hikes. >> we have stop gap measures. there are some things they can do
Search Results 0 to 3 of about 4